New Asian LNG buyers are making forays into the spot market amid a drop in regional prices, but global volatility and the risk of more price spikes could create hurdles for government policies to reduce reliance on coal.

Asian spot prices fell in February and March because of a mild winter, lower demand from Europe and an influx of supply from producers including the United States and Australia. Spot prices in Asia have fallen to around $14/MMBtu, a significant drop from record highs above $70 last August.

The drop has helped usher in price-sensitive Asian buyers to Bangladesh, India and Thailand, which have issued tenders for cargoes to be delivered throughout the year. It has also helped spark interest from countries looking to utilize recently built import...